Stock Futures Flat As S&P Closes Out Best Quarter In 6 Years
by Tyler Durden
Tuesday, Jun 30, 2026 - 08:38 AM
US index futures erased an earlier gain following some belligerent Iran headlines, but are still set to end a quarter that is set to be the S&P 500’s best in six years with markets behaving as though period-end dynamics have now completed. As of 8:30am, the S&P 500 was flat, pointing to a calm finish for the index that has surged 14% since the beginning of April. Nasdaq futures rose 0.1% erasing a sizable gain earlier, but on pace to close the quarter with a staggering 24% gain; In premarket trading, semis are mixed, Mag7 are flat, Cyclicals are generally leading Defensives with exceptions being Energy (lower) and Healthcare (higher). European stocks rallied, with gains led by Abivax SA after a clinical-trial update soothed investor concerns. Chipmakers drove Asian shares higher. JPM says with the major US holiday coming up, keep an eye on low liquidity moves in the region. Bond yields reversed an earlier drop to trade higher by 1bp pushing the 10Y yield to 4.39%. The USD is stronger, looking to erase all of yesterday’s losses. Commodities are stronger with crude flat into today’s US / Iran discussions, Metals seeing a bid, and Ags outperforming the other commodities complexes. Today's economic data calendar includes April Case-Shiller home prices (9am), June MNI Chicago PMI (9:45am, several minutes earlier for subscribers), June consumer confidence and May JOLTS job openings (10am) and June Dallas Fed services activity (10:30am). Fed speaker slate empty for the session. Chairman Warsh participates in an ECB panel event on Wednesday in Sintra
In premarket trading, Mag 7 stocks are mostly higher (Alphabet +0.3%, Amazon +0.1%, Apple unchanged, Meta Platforms +0.3%, Microsoft +0.4%, Nvidia +0.8%, Tesla (TSLA) -0.9%).
AeroVironment (AVAV) soars 30% after the defense company reported fourth-quarter results that topped expectations and forecast 2027 revenue that at the midpoint exceeds estimates. Analysts note strength in its drones business.
Aevex (AVEX) climbs 12% after winning a $50 million contract from the US Air Force to continue expanding unmanned mission‑support capabilities for current operations.
Block (XYZ) inches about 1% higher after Piper Sandler upgraded the digital payments company by two notches to overweight, citing earnings potential.
Concentrix (CNXC) tumbles 23% after the call-center company slashed its full-year outlook. The company’s forecasts for reported revenue and adjusted earnings per share also undershot Wall Street’s expectations.
Patrick Industries (PATK) and LCI Industries (LCII) announced plans to combine in an all-stock merger. LCI shares are up 7%, while Patrick shares are halted.
Replimune (REPL) gains 6% after BMO Capital Markets upgraded the drug developer by two notches to outperform from underperform, citing a clearer regulatory path for the firm’s experimental treatment of advanced melanoma.
Space stocks were among the biggest US premarket gainers. Michael Saylor’s Strategy Inc. eased after Monday’s rally as Bitcoin dipped below $60,000. Microsoft Corp. was firmer, but still on course for its worst month since December 2000.
https://www.zerohedge.com/markets/stock-futures-flat-sp-closes-out-best-quarter-6-years
